SEI Price Surges Despite Market Downturn, Analysts Eye Potential 60-70% Rally

While the broader crypto market remains in a turbulent phase, SEI is breaking away from the trend, showcasing remarkable strength.

Despite the broader crypto market experiencing turbulence, SEI is exhibiting exceptional strength with a 24% surge. This outperformance is grabbing investor attention and bodes well for further gains.

SEI Price Surges Past Resistance

SEI is currently valued at $0.282345, with a 24-hour trading volume of $527.82 million and a market cap of $1.25 billion. At the time of writing, SEI’s market dominance stands at 0.04%.

While many assets have been battered, failing to hold key support levels, SEI has maintained its bullish structure, even showing a 1.08% increase in the past 24 hours. This resilience is highlighting the token’s growing demand, both from retail and institutional investors. Now, all eyes are on whether SEI can sustain its breakout and continue pushing toward new highs.

SEI Surges Past Resistance, 60-70% Rally In SightSEI has recently broken a major trendline resistance on the daily timeframe, signaling the beginning of a potentially explosive rally. The breakout has been accompanied by increasing trading volume, further validating the strength of the move.

Now that the token is trading above key resistance levels, market observers anticipate a potential 60-70% rally in the near future. If the momentum continues, the token could soon challenge its next resistance zones, potentially setting a new local high.

After breaking out from a descending triangle pattern on March 13, SEI has rallied nearly 24% in the past seven days. The token outperformed most major cryptocurrencies and even surged past a crucial resistance level at $0.27.

This breakout was accompanied by a sharp increase in trading volume, suggesting strong buying pressure behind the move. Moreover, the token price also crossed above the 50 Fib retracement level from the recent downtrend, further bolstering the bullish case.

With SEI now trading above a key resistance level and technical indicators signaling bullish momentum, the token is positioned for further gains in the coming days. If the breakout continues, the next resistance zones to watch are around $0.32 and $0.34, respectively.